Thread by @austinschless

In 2017, a doctor started a Youtube channel.

4 years later, he is averaging $25k/week in passive income.

How'd he do it?

THREAD: 6 Passive Income Ideas for Busy People Who Want To Build Wealth and Achieve Financial Freedom.

@AliAbdaal is a doctor, Youtuber, and Podcaster.

He is most known for his Youtube videos on productivity and life advice.

He started his YouTube channel in 2017 and committed to posting 2 videos every week for 6 months.

6 months passed, and Ali had produced 52 videos.

He had 1000 subscribers and was making $0.

At this point, most creators would quit.

Not Ali.

Ali continued to make Youtube videos and his channel continued to grow.

4 years later, and Ali has produced 100s more videos.

He has 1.9 million subscribers and is making $135,000+/year from his Youtube channel.

Not bad, right?

In 2020, Ali earned $1.3 million across 9 revenue streams.

Youtube was only one part of the equation.

Here're 6 passive income ideas you can replicate to achieve to same results.
👇👇👇

#1 INVEST IN STOCKS

• Open an account on Vanguard
• Find a low fee index fund ($VFIAX)
• Set a reoccurring investment
• Let compound interest do its thing

3 Secrets to Making Massive Returns in the Stock Market:

• Use index funds and ETFs
• Invest consistently
• Think long term
• Be patient

80/20 for Stock Investing:

• 80% in S&P 500
• 20% in individual stocks/educated bets

https://twitter.com/thewealthdad/status/1414207026947895296

#2 START A YOUTUBE CHANNEL

• Create a Youtube channel
• Publish videos consistently
• Monetize with advertisements

To monetize your Youtube channel, you need...

• 1000 subscribers
• 4000 hrs of watch time.

It took Ali 6 months and 52 videos to do this.

On average, it takes people 90 videos.

However, once you hit that threshold, there's a lot of potentials to make some dough...

Youtube Creator Earning Potential:

Youtube typically pays creators $2 per 1000s views.

• $100 = 50,000 views
• $1000 = 500,000 views
• $10,000 = 5,000,000 views

#3 START A PODCAST

• Get your podcast set up on @anchor
• Publish consistently
• Monetize with sponsorships

To monetize your podcast, you need brands to sponsor your show.

Once you have brands to sponsor your show, you need listeners.

How many listeners do you need to start making passive income from your pod?

Let's see...

Podcast Earning Potential:

You have a weekly podcast.

You post around 4 episodes/month.

You run a 60-second advertisement on each episode that makes you $25 per 1000 listens.

• $100/month = 1000 listens/ep
• $1000/month = 10k listens/ep
• $10,000/month = 100k listens/ep

#4 BECOME AN AFFILIATE MARKETER

• Identify products or services you like
• Apply to become an affiliate
• Create content promoting your affiliate link
• Make $$$ when people buy stuff using your link

To make money with affiliate marketing, you need a platform to sell (Twitter, IG, etc.)

Once you have built a platform, you need to make sales.

How many sales do you need to start making decent passive income from affiliate marketing?

Let's dive in...

Affiliate Marketing Earning Potential:

You are an affiliate for a $100 product that pays you 10% per sale.

• $100/month = 10 sales
• $1000/month = 100 sales
• $10,000/month = 1000 sales

Affiliate marketers are making $100s per month on Twitter.

Here's a 5-step process to getting started with affiliate marketing on Twitter...
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5-Step Process to Make $100s per Month From Affiliate Marketing on Twitter:

• Buy a course on Gumroad
• Apply the principles from the course
• Ask the creator to become an affiliate
• Write threads and plug your affiliate link
• Make $$$

#5 SELL A DIGITAL PRODUCT

• Create a product
• List it on @gumroad
• Make $$$ by selling your product

Pat Flynn generates over $250k/month in passive income.

How'd he get started?

Selling digital products.

https://twitter.com/austinschless/status/1407284031251632132?s=20

To make money with digital products, you need to identify a problem.

Once you have identified a problem, you need to build a product to solve that problem.

After you've built the product, you need to sell it.

So what's the earning potential?

Digital Products Earning Potential:

You are selling a $20 ebook.

• $100/month = 5 sales
• $1000/month = 50 sales
• $10,000/month = 500 sales

Pretty good right?

Here's how you can hit those sales numbers...

How to Build and Sell a Digital Product that Actually Makes You Money:

• Find your audience
• Identify their pain points
• Build product
• Give it to your audience
• Collect testimonials
• Leverage testimonials to make more sales
• Build systems to sell more

#6 SELL A COURSE

• Create a course
• List it on @gumroad
• Make $$$ from your course

To make money with an online course, you need to identify a problem.

Once you have identified a problem, you need to create a course that solves that problem.

After you've built the course, you need to sell it.

So what's the earning potential?

Online Course Earning Potential:

You are selling a $100 course.

• $100/month = 1 sale
• $1000/month = 10 sales
• $10,000/month = 100 sales

So you just finished reading this thread.

Your head is spinning.

You want to start generating passive income, but you're not sure where to start.

Here's what I'd recommend...

Invest in the stock market.

"But I want to start a Youtube channel"

A Youtube channel requires a TON of work.

You need 1000s subscribers and 4000 views just to start making money!

This can take months or years...

Stocks can begin making you money TODAY.

"I don't know how to invest in stocks"

Neither did I!

Then, I figured it out.

I developed a system that automatically invests my money in 100s of stocks every month.

It's made me $1000s.

Subscribe to my newsletter and I'll share exactly how I did it.
austinschlessinger.substack.com

If you found this thread valuable:

1. Follow me @austinschless for more threads on Financial Freedom and building passive income

2. Retweet the top tweet to teach more people how to build passive income!

TL;DR
6 Passive Income Ideas for Busy People Who Want To Build Wealth and Achieve Financial Freedom:
• Invest in stocks
• Start a Youtube channel
• Start a podcast
• Become an affiliate marketer
• Sell a digital product
• Sell a course